Tech Titans Trim Teams

Splits and Caps Daily: Action for Agents

January 13, 2025

📈 Market Move:

Redfin Reshuffles, Zillow Zigs

The winds of change are blowing in the real estate world. Redfin and Zillow, two big players based in Seattle, just trimmed their teams again. Redfin let go of 46 staff members, mostly in leadership roles—not agents. Zillow hasn’t shared numbers but confirmed cuts in its agent software and advertising teams.

What’s driving these layoffs? The real estate market is still shaky. Mortgage rates are hovering near 7%, home listings are up (but a lot are just sitting unsold), and affordability hasn’t worsened, but it hasn’t improved much either. Both companies are making moves to adapt: Redfin’s revamped agent compensation model is expanding, and Zillow seems to be reshuffling resources to focus on agent software and advertising.

It’s a reminder that even giants in the industry are feeling the crunch, adjusting strategies, and rethinking priorities to navigate the current landscape.

🌟Quote of the Day:

"Innovation distinguishes between a leader and a follower." — Steve Jobs

📊🤔 Agent Poll Results

On 1/10, we asked: What’s the vibe with buyers right now?

The results are in!

• 😅 Nervous about rates: 14%

• 🤷‍♂️ Waiting for prices to drop: 43%

• 🏃‍♀️ Rushing to lock in before it gets worse: 14%

• 💤 Totally quiet: 29%

Wow, talk about a full spectrum of opinions here—love it. Thanks for chiming in, everyone

🎉 Fun Fact of the Day: 

The First Zillow? In ancient Babylon, Hammurabi’s Code included rules for home rentals. If a house collapsed and injured the tenant, the builder was held accountable. Early housing regulations, Babylon-style.

📚 Book Recommendation:

"The Speed of Trust" by Stephen M.R. Covey—Alright, here’s the deal: Trust isn’t just a warm, fuzzy feeling—it’s the grease that keeps the gears of business (and life) turning. Stephen Covey lays it all out in The Speed of Trust. The premise? Trust isn’t a soft skill; it’s a hard-edge, bottom-line superpower.

Imagine shaving weeks off deal cycles or turning team collaboration into a well-oiled machine. That’s what high-trust environments do. Covey breaks down trust into actionable steps—how to build it, repair it, and leverage it for massive wins. Whether you’re managing a team, running your own gig, or just trying to get your kids to eat broccoli, this book is a game-changer.

Bottom line: Trust moves the needle faster than anything else. Read this, and watch how it transforms the way you do business.

Dream big, work hard, and let the results speak louder than your doubts.

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